Audio editing apps for iPad?

Anyone know of an audio editing program for the iPad? I'd like to be able to read, edit, and save MP3 files or whatever format the iPad uses. Something like CoolEdit (later changed to Adobe Auditions, I think).

Actually, what I really want to do with the app is to be able to choose a portion of a song, slow down the temp while maintaining pitch and loop that portion of the song. This would be as an aid to learning the bass or guitar parts of the song.

I've tried searching the apps store without much success. Unfortunately, many apps have names that bear no relation at all to what they do. I've tried entering "audio editing", "sound editing", "looping", and don't see anything come up that looks like it would do what I want.

I used "slow downer" and found an iPhone (or iPod?) app that is iPad compatible and might help. However, you can only push songs from your computer to the app through a browser. You can't use the app to find a song already on the iPad.

There is nothing yet - I've had fun with Beatwave and Korg's iElectribe and I'm keeping a look out for a simple sequencer with sample player. If someone came out with a midi sequencer, I'd be in heaven as it'd be perfect for my Korg Radias.

In the land of the blind, the one-eyed man is stoned to death.
- Joan D. Vinge

It seems to me that any legitimate audio application (including the ability to change tempo without changing pitch) takes a lot of computing power. It doesn't seem practical to me for it to be on the iphone. Maybe the iPad??

Just released to the app store is an app called Snipster for iPad. (iPhone version coming soon!)

This app allows you to use songs already on your iPad, set the start time, end time of any track, allow you to fade it out, and allow you to create play lists, and loop! Basically like an old cart rack.

This program unfortunately does not allow you to slow down the track that is playing, but has all of the other features that were mentioned previously.